Emerging Tech in Financial Services Industry

Institutions like banks, lending houses, financial companies, Insurance, Mutual Funds, etc. are all financial services, which are considered to be the backbone of the economy. Today technology from customer service chatbots to software robot bankers, disruptive digital technologies like artificial intelligence (AI), robotics, and blockchain are changing the financial services industry.

Hybrid Cloud, Blockchain, Data Analytics, Cybersecurity are not only the major platforms allowing the sector to operate, but are also the leading job opportunities for the coming generation.

We at Vision College of Management  are extremely cautious to integrate technical skills under Management Education Redefined Program.

Financial technology job trends in India

TAs per the report of Naukri.com, a leading job portal, the number of jobs within this sector is growing drastically with every passing day. Here are the current job trends in India for some of these financial technologies.

1. Data Analytics

Data analytics is expected to take over the financial sector by storm in the near future.

More and more financial institutions have started banking upon this technology for efficiency in regular banking processes.

Data analytics promises a fruitful & well-paid career in the modern-day changing financial sector. A constant need for dynamic & efficient IT workforce is on the rise.

2. Cybersecurity

The role of cybersecurity in the evolving financial sector is paramount. Technology is rapidly growing, and so are the risks.

Considering this scenario, financial institutions constantly look out for a reliable & efficient workforce to increase cybersecurity.

Information security experts, security engineers, cybersecurity analysts & so on are in constant demand across the globe.

3. Robotic Process Automation

Since Robotics is revolutionizing the financial sector, a wide network of automation processes are constantly being designed to reduce error within financial systems.

Improved automation requires constant innovation and research; this opens up career opportunities for IT professionals to find occupation within financial firms.

4. Blockchain

Blockchain is at the forefront of emerging technologies that financial institutions believe could profoundly impact the way they do business. Many financial institutions are using blockchain to build a variety of platforms—such as payments and trade finance—and are beginning to engage with established cryptocurrencies.

5. Artificial Intelligence

Artificial intelligence or AI is one of the most rapidly growing technologies. AI has found its way within financial institutions in a much shorter time than other relevant technologies.

As the demand for this technology grows, so does the demand for an efficient workforce.

Job openings relevant to AI technology are rapidly growing globally as well as in India.

The future of the financial sector in India is bright, thus opening doors for young professionals to seek a career in this domain.

Today the Indian financial market is safe, transparent and reliable. The constant evolution of technology within the financial sector has made financial institutions much safer for people to trust and invest in.

The financial sector is a pillar of the economy of a developing country like ours, thus the opportunity to be a part of this technological growth is immense, to say the least.

This is indeed the right time to be a part of a monumental change.

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